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Home Loan in Delhi

Delhi is a multi-cultural city with many career opportunities at the heart of the country. If you plan to purchase a house in Delhi, Tata Capital can help you accomplish that. Here are some features of a home loan in Delhi.

 

  1. 1.Attractive Interest Rates

With Tata Capital, home loans are as affordable as possible, and we offer the lowest interest rates on home loans in Delhi. Your monthly instalments will be much lower so you can move into your new house sooner.

 

  1. 2.Adequate Funds for Housing

Tata Capital extends home loans of up to Rs. 5 Crore. So, whether you plan to purchase a ready-to-move-in apartment or house or construct your dream house, you can do that with Tata capital’s home loan.

 

  1. 3.Easy-to-meet Eligibility Criteria

Tata Capital’s easy-to-meet eligibility criteria ensure that your loan is processed on time. We make sure that you get your dream house without any delay. You can use our Home Loan Eligibility Calculator to determine your eligibility in seconds.

 

  1. 4.Easy Repayment

We also make sure that loan repayment is not a burden. With Tata Capital, you get flexible loan tenure of up to 30 years so that you can repay the amount at your convenience.

 

  1. 5.Lasting Investment

Delhi is popular among youth for academics and careers. Every year, thousands move into the city to look for opportunities. So, your property will your valuable asset.

Know more about our offering

Key Features

Loan Amount

₹2,00,000 - ₹5,00,00,000

Loan Tenure

Up to 30 years

Interest rate starting at

6.70%*

HOME LOAN IN DELHI ADVANTAGES

Affordable Yet Premium Realty

There is no shortage of affordable housing options in the country's heart and centre. Many developers have set up profile-based projects in the Capital, but without any compromises on quality. Home loans in Delhi are also easy to avail of. So, you can find a property to suit your taste, needs, and budget without difficulty.  

Access to World-Class Infrastructure

The city offers something for everyone. It has growing corporate hubs, well-developed healthcare and higher education institutes, and seamless interconnectivity with Metro, bus, and other public transits. Whether you want to make a home here or let out a property for rental income, India's Capital has just the right selection of properties. That's why taking a housing loan in Delhi to buy a home is always a good idea. 

Affordable Yet Premium Realty

There is no shortage of affordable housing options in the country's heart and centre. Many developers have set up profile-based projects in the Capital, but without any compromises on quality. Home loans in Delhi are also easy to avail of. So, you can find a property to suit your taste, needs, and budget without difficulty.  

Access to World-Class Infrastructure

The city offers something for everyone. It has growing corporate hubs, well-developed healthcare and higher education institutes, and seamless interconnectivity with Metro, bus, and other public transits. Whether you want to make a home here or let out a property for rental income, India's Capital has just the right selection of properties. That's why taking a housing loan in Delhi to buy a home is always a good idea. 

What are Interest Rates for Home Loan in Delhi?

As a metropolitan, Delhi scores high on infrastructure, civic amenities, transit networks, and overall standard of living. Even access to a home loan in Delhi is relatively more straightforward. This makes the Capital a top-tier city for realty investment. 

Not convinced? Well, the home loan interest rates in Delhi are at a record low, which means you only pay smaller EMIs. If you have been eyeing a residential property for a while, now is a perfect time. With Tata Capital, you can get some of the lowest home loan rates in Delhi and become a proud homeowner in no time. 

We also have minimal documentation requirements, charge a nominal processing fee and zero hidden charges. Given the various benefits of borrowing a housing loan in Delhi from Tata Capital, why wait? Connect with us today!

What is the Eligibility Criteria for a Home Loan in Delhi?

If you want information about the eligibility criteria for a Tata Capital loan, use our Eligibility Calculator. Simply fill out the required fields and determine your eligibility today. 

Tata Capital’s eligibility criteria for home loans is listed below –

  •  Applicant’s age: 24 - 65 years
  • Salaried applicant’s minimum salary and work experience: Rs. 30,000; 2 years
  • Self-employed applicant’s minimum work experience in the current field: 3 years
  • NRI (Non-Resident Indians) applicants must be salaried and hold a minimum work experience of 3 years

What are the Documents Required for Getting a Home Loan in Delhi?  

All applicants require some essential documentation for a loan, such as:

  • Salary Slips
  • Age Proof
  • Income Statement
  • Address proof
  • Processing Fee Cheque
  • Identity Proof

 

Visit our home loan document page to get the detailed list of documents required for availing a home loan.

How to Calculate EMI for Home Loan Online

Are you planning to borrow a home loan in Delhi? Then you must understand which factors affect your EMIs and how you can prepare for them.

Your payable EMI amount is determined using your applicable interest rate and tenure. To estimate the same, you can use a home loan EMI calculator online. With Tata Capital's Home Loan EMI Calculator, you can estimate your home loan EMI in Delhi in only a few minutes and take the first step towards your dream home today. 

All you need to do is enter your principal amount and tenure to get a combination that works well. With accurate estimates of your home loan repayment obligations, you can plan ahead for your housing loan in Delhi and prepare a budget to repay the dues on time. 

HOW TO APPLY FOR A HOME LOAN ONLINE IN DELHI

Offline Application Process

            Address 1: 2nd and 3rd floor ,A-9,Swasthya Vihar,Vikas Marg,New Delhi-110052

            Address 2: 1st & 2nd floor,B- 36 Lajpat Nagar-II New Delhi-110021(Above HDFC Bank)

 

FAQ

Maximum of 30 years is provided to repay a loan. This is subject to retirement age of the borrower or 65 years in the case of self-employed applicant. 

Our interest rates begin from 7.75%* and are highly competitive. We offer concessional interest rates to women beneficiaries. Additionally, we provide subsidized home loans to low income groups under PMAY subsidy.  

Home loans serve the primary purpose of purchasing a property or facilitating the construction of one for home buyers. Different types of home loans are taken for different purposes such as –

  • Purchase of Land 
  • Readymade Home Purchase 
  • Home Construction 
  • House Expansion or Extension 
  • Home Conversion 
  • Home Renovation 
  • Loans Against Property or Mortgage Loan

A co-applicant in a home loan is an individual who will be equally responsible to repay the home loan just as the main borrower. He or she has to apply for the home loan along with the main borrower. Lenders will take the co-applicant’s income and credit standing into consideration as well. 

Home loan co-applicants can only be immediate family members or blood relatives. Up to six co-applicants are permitted per home loan application. The following can be co-applicants in a joint home loan –

  • Spouse
  • Father 
  • Mother 
  • Brother who is not a minor 
  • Sister who is not a minor 
  • Son who is not a minor 
  • Daughter who is not a minor 

The time taken for the sanctioning of home loans varies depending upon whether you are a salaried individual, self-employed individual or entrepreneur. Typically,

  • For salaried individuals, home loans can be sanctioned within 4 to 5 business days
  • For self-employed individuals, it may take around 7 to 8 business days to get home loan sanctioned 

Tax benefits on home loans may be availed during filing of annual income tax returns. Home loan borrowers are eligible for tax benefits on home loan as per Section 80 C of the Income Tax Act. The following tax benefits can be availed by home loan borrowers -

  • Deduction for Interest Paid on Housing Loan - The interest portion of the EMI paid for home loan in the year can be claimed as a deduction from your total income. This amount must not exceed a maximum of Rs 2 lakhs as per Section 24
  • Deduction on Principal Repayment - The Principal portion of the home loan EMI paid for the year is allowed as deduction under Section 80C. The maximum amount that can be claimed is up to Rs 1.5 lakh. However, to claim this deduction, the house property should not be sold within 5 years of possession.
  • Additional Deduction under Section 80 EEA – 2019’s Budget has introduced additional deduction under Section 80EEA for home buyers for maximum up to Rs 1,50,000, provided the stamp value of the property does not exceed Rs 45 lakhs. The loan must have been sanctioned between 1 April 2019 and 31 March 2020 to avail this benefit.

If your home loan interest rate hikes, you can reduce your housing loan tenure in the following ways –

  • Increasing your EMI
  • Making a part pre-payment of your housing loan, or
  • A combination of both the ways mentioned above

If you wish to reduce your home loan tenure, visit the nearest loan-serving branch. Once the EMI has been changed, submit new Electronic Clearance Service (ECS) mandate/Post-Dated cheques with the updated EMI amount to get your home loan tenure reduced. 

Home loan is taken for a property whereas a mortgage loan is taken against a property - For a home loan, an applicant borrows money from a lending institution at a given interest rate for buying, constructing, or upgrading of a property.  

For a mortgage loan, financial institutions or lenders extend the mortgage by securing a property. So, though the property is considered to be the collateral for the loan amount, it is the lending institution that is the actual owner of the property till full loan repayment.

 

A fixed interest rate is completely market independent whereas a floating interest rate varies throughout the loan tenure based on changes in the market forces.   With Tata Capital, you get the flexibility to opt for Fixed Rate Home Loan or Home Equity Loan for the initial three years of your home loan tenure following which there will be an automatic change to floating interest rates for the rest of the tenure.

Yes, it is possible for you to prepay your home loan, either in part or in full, keeping the following in mind – 

  • You need prior written approval of the lending authority
  • You need to consider pre-payment charges levied by your lending institution 
  • There could also be a minimum pre-payment amount limit set by your lending authority that you need to consider

Yes, you can take a joint home loan to increase your home loan eligibility. In case of a joint home loan, the income and credit standing of the co-applicant will also be taken into consideration. You can take a joint home loan with the following –

 

  • Your spouse 
  • Your parents 
  • Your children 
  • Your siblings 

 

Basically, anybody who makes up your immediate family is eligible for becoming a co-applicant.

Yes, a sanctioned home loan can be cancelled. However, the processing fees charged during the home loan sanction process will not be refunded. If you want to cancel your loan after receiving your home loan sanction letter, write to your lender. Make sure you do this well before the loan’s disbursal.

Yes, you can extend your home loan tenure as long as it is within your lenders’ terms and conditions. At Tata Capital, the home loan maximum tenure is 30 years.

By extending your tenure, you can reduce the burden of EMIs. You can contact your lender or visit their branch to apply for a tenure extension.

Some common home loan rejection reasons are unmet eligibility criteria, low income, low credit score, and incomplete or incorrect details in your loan application.

If your application was rejected, find out why. If needed, wait for your income and credit score to improve and apply again. Make sure you check your application thoroughly before submitting.

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EASY APPLICATION PROCESS

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